The Government Standing Committee has just agreed to conclude a 50% reduction in registration fees for domestically produced and assembled cars for 3 months instead of 6 months as in the previous 3 incentive periods.
The Government Office has just issued Notice No. 384/TB-VPCP of the Government Standing Committee at the meeting on receiving and explaining the opinions of Government members on the draft Decree regulating the registration fee for domestically produced and assembled automobiles. The meeting was held on August 15 and chaired by Prime Minister Pham Minh Chinh.
After listening to the report of the Ministry of Finance, the speeches of the Deputy Prime Ministers and the delegates attending the meeting, the Government Standing Committee unanimously concluded to implement a 50% reduction in registration fees for domestically produced and assembled cars for a period of 3 months instead of a 6-month reduction as previously reported and requested for the Government's opinion.
The Government Standing Committee assigned the Ministry of Finance to receive consensus opinions at the meeting and explain the opinions of Government members, and at the same time complete the draft Decree and submit it to the Prime Minister for signing and promulgation before August 18.
The Government Standing Committee assigned the Ministry of Industry and Trade to preside over and coordinate with relevant ministries, agencies and localities to urgently research and propose appropriate, feasible and effective policies to encourage the production and use of electric vehicles in Vietnam, and report to competent authorities in September 2024.
In addition, the Government Standing Committee assigned the Ministry of Construction to preside over and coordinate with the Ministry of Justice, the Ministry of Industry and Trade, the Ministry of Transport and relevant agencies to urgently review current legal regulations to propose amendments and supplements related to removing arising problems related to the installation of electric charging stations/posts for vehicles at gas stations, and report in August 2024.
Thus, by the end of 2024, the Vietnamese automobile market may be "warmed up" thanks to the policy of reducing registration fees for domestically produced and assembled cars.
Specifically, this registration fee will be equal to 50% of the fee prescribed in Decree No. 10/2022 of the Government regulating registration fees and current resolutions and decisions of the People's Council/People's Committee of provinces and centrally run cities on local registration fee collection levels and amendments, supplements and replacements (if any).
Previously, the Vietnamese automobile market had received 3 incentives from the Government to reduce 50% of registration fees for domestically produced and assembled cars, each time valid for 6 months.
For the first time, in the last 6 months of 2020, the number of domestically assembled cars sold increased to a record, reaching 398,177 cars, 2.03 times higher than in the first 6 months of 2020.
The second time applied for 6 months from December 1, 2021 to May 31, 2022, the number of domestic cars sold was 232,192 cars. On average, in the first 5 months of 2022, domestic car sales reached 33,690 cars/month, 1.5 times higher than the average number in the last 7 months of 2022.
The third time, applied in the last 6 months of 2023, domestic car sales reached 176,483 vehicles, an increase of 1.6 times compared to the first 6 months of 2023.
Currently, the registration fee for new cars is 12% applied in Hanoi and some major cities. The remaining provinces apply 10%.
According to vietnamnet.vn
Source: https://baohanam.com.vn/kinh-te/chinh-phu-thong-nhat-giam-50-le-phi-truoc-ba-o-to-ban-hanh-truoc-18-8-131760.html
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